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Dec 13, 2012
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. >> if you believe that, you know, we're going to be more like europe every year, i'd definitely be owning some gold. >> is that what you any? >> i don't -- i -- i have not liked gold as an inflation indicator throughout this whole run in part because i saw it as a flight to safety indicator more than anything else, not necessarily an inflation indicator. >> i agree. >> and it's hard for me to imagine that the equity market is trading for fear of inflation. every barometer i've looked at said this is a hawkish trade, a deflationary trade going on today, just the opposite. >> one more thing. i do agree that the reason i would never advocate selling stocks is because inflation is coming, and it's a great inflation adjustment instrument. >> all right. we'll leave it there. >> decoupling of gold and rick santelli works would have thunk it. >> thanks, guys. see you a little later. 40 minutes before the closing bell sounds for the day. market that is worse, down 100 points on the dow jones industrial average. as you can see, 96 points lower. >> someone just calling that, going back to the
. >> if you believe that, you know, we're going to be more like europe every year, i'd definitely be owning some gold. >> is that what you any? >> i don't -- i -- i have not liked gold as an inflation indicator throughout this whole run in part because i saw it as a flight to safety indicator more than anything else, not necessarily an inflation indicator. >> i agree. >> and it's hard for me to imagine that the equity market is trading for fear of inflation. every...
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Dec 18, 2012
12/12
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is it europe, the election? is it the fiscal cliff, but as you go through those one by one, the election is now behind us. i do believe we'll have a resolution on the fiscal cliff and if you look at europe, the ecb put a gigantic band-aid on this so next year will be a big year. >> did you see the s&p upgraded greece today by six notches? i had to hit the machine to make sure that was the correct number there. >> well, you know, a lot of volatility in rate. >> bob pisani, what do you think today? a pretty good real under way? all about the fiscal cliff? >> well, the markets, is bullish because the markets are acting like 2013 will resolve a lot of problems so we've multi-month highs in the stock market. we have the safe haven, gold and bonds just getting hit badly again. i mean, bond yields are moving up. gold is moving down on a day when the dollar is -- is weak today, so the markets are sort of acting like things are actually going to resolve themself. even now, maria, you might notice, the headlines out this
is it europe, the election? is it the fiscal cliff, but as you go through those one by one, the election is now behind us. i do believe we'll have a resolution on the fiscal cliff and if you look at europe, the ecb put a gigantic band-aid on this so next year will be a big year. >> did you see the s&p upgraded greece today by six notches? i had to hit the machine to make sure that was the correct number there. >> well, you know, a lot of volatility in rate. >> bob pisani,...
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Dec 21, 2012
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>> that assumes all else being equal, the problem is you look at europe, it's recovering. you look at the way china is acting, it's recovering. a lot of the weakness that could come from the fiscal cliff may be picked up from overseas markets which have been a drag this year. maybe you see a flipping of that in 2013. >> it's interesting that you are looking at the emerging markets. even though, yes, you're looking at higher growth rates than some of these outside the u.s. hot spots, they've come down quite a bit. does that slowdown in growth affect you? >> no question it's slowed down quite a bit. the big three things that have happened in 2012, only five days left, are things that didn't have. greece does not have an exit. citigroup had a 90% chance earlier this year. the biggest day of this jurn year was june 17th when they elected a moderate who did not try to pull greece out. and germany stepped up and gave them some money and that september the 6th, that was the european central bank. so you had china, maria, the united states and greece. none of them went off the cli
>> that assumes all else being equal, the problem is you look at europe, it's recovering. you look at the way china is acting, it's recovering. a lot of the weakness that could come from the fiscal cliff may be picked up from overseas markets which have been a drag this year. maybe you see a flipping of that in 2013. >> it's interesting that you are looking at the emerging markets. even though, yes, you're looking at higher growth rates than some of these outside the u.s. hot spots,...
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Dec 11, 2012
12/12
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we've seen this in the past in europe and other brinksmanship moments. my hope would be that a small correction in the markets, maybe down 5% for a couple of days in a row, would kind of get them back and really force them to kind of make a decision but my worry is that that's what it will take there. has to be some external pressure applied to get them to understand the consequences of this endless debate. >> what's the green light you're waiting for to buy then? >> it's -- it's seeing a deal done because frankly i -- i'm not going to jump on the first tentative deal. these things can easily fall apart once they see the light of day and the details come out. i think investors should be careful about going for head fakes, the inevitible stories about they are about to reach an agreement show me the details so that i know whether the deal is doable or not and then i'll determine whether or not they resolve the problem. >> thanks for coming on the program. thanks so much. >> thank you. >> ethan harris joining us. >> and as we head towards the close, the bi
we've seen this in the past in europe and other brinksmanship moments. my hope would be that a small correction in the markets, maybe down 5% for a couple of days in a row, would kind of get them back and really force them to kind of make a decision but my worry is that that's what it will take there. has to be some external pressure applied to get them to understand the consequences of this endless debate. >> what's the green light you're waiting for to buy then? >> it's -- it's...
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Dec 20, 2012
12/12
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will be clearing its equity trades in europe. this deal will not face regulatory scrutiny with the way that this is formed. the former deal attempts with deutsche boerse fell and here there was no overlap between i.c.e. and nyc. however, this clearing agreement makes it very tough and expensive to break up this deal between nyc and i.c.e., so the question market sources are asking now is what is the next move for cme group, nasdaq, hong kong exchange, among others? let's talk about when,deal and what it all means right now. scott, this is part of the deal that's really being underreported and not spoken about too much. that's the clearing exchange partnership. that's going to make it very tough to penetrate and to get any competitors to break up this deal. >> officials all over the globe who are assessing this deal and trying to figure out what they are going to do next to try to remain competitive. joining us now are david faber, bob pisani and steven guilfoyle and rick santelli at the cme. first, david, who broke the story this
will be clearing its equity trades in europe. this deal will not face regulatory scrutiny with the way that this is formed. the former deal attempts with deutsche boerse fell and here there was no overlap between i.c.e. and nyc. however, this clearing agreement makes it very tough and expensive to break up this deal between nyc and i.c.e., so the question market sources are asking now is what is the next move for cme group, nasdaq, hong kong exchange, among others? let's talk about when,deal...
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Dec 26, 2012
12/12
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>> i think you have to watch things in europe. the big day is the september 11th elections in germany and germany could be harder after the election. in the first half is the sent ceiling discussion and finally profits, personal income and production, if those can do better than the markets can lift but right now the view is for a nothing market from here till year end. once the seasonal increases go away, we could have tax increases rand spending cuts if we get a deal. why is that going on a headwind for the stock market? >> i think it will be. if the taxes go up, i think that's something that hurts consumer confidence. you've seen the retail sales in the last part of this season here, have sold off, and many people have said it's because of the fiscal cliff. >> kind of depressing when you say it's a nothing market between now and the end of 2013. how do you make money, if you want to see it's going to be a -- >> he knows rhyme going to say buy apple. it's up 20%, up 50% and some off a little bit. if it sells off, you'll have nic
>> i think you have to watch things in europe. the big day is the september 11th elections in germany and germany could be harder after the election. in the first half is the sent ceiling discussion and finally profits, personal income and production, if those can do better than the markets can lift but right now the view is for a nothing market from here till year end. once the seasonal increases go away, we could have tax increases rand spending cuts if we get a deal. why is that going...
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Dec 28, 2012
12/12
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focus on some of the positive things like europe didn't fall over. interest rates are reasonable in spain, italy, and great britain. ashley: corporate earnings, signs of weakness in the last earnings season. concernedded about that? >> i think that it's cyclical. i think there's been little signs. i think we have to get employment together in the united states. housing is starting to come back. we're -- slowly, but in the north east in particular, there's more demand, and there's less housing inventory, but in the rest of the country, we have to wait and see on that. employment is really, really the key thing, and so what comes out of all the negotiations and how we employee people, infrastructure, and all of that makes a difference. ashley: companies hunkering down, a lot of cash, but not doing in until washington gets the act together. >> means technology, for example, could be a big sector. if companies get signals from washington and go out and invest into hiring people, putting technology online, it could be great, but we're just waiting and wai
focus on some of the positive things like europe didn't fall over. interest rates are reasonable in spain, italy, and great britain. ashley: corporate earnings, signs of weakness in the last earnings season. concernedded about that? >> i think that it's cyclical. i think there's been little signs. i think we have to get employment together in the united states. housing is starting to come back. we're -- slowly, but in the north east in particular, there's more demand, and there's less...
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Dec 27, 2012
12/12
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secondly the steel making coal which is used in europe brazil and in asia and we are one of the top three exporters of that coal in the world, and as the recovery in steel production increases in asia and in europe and latin america, that should be better for demand for that coal and hopefully pricing and really benefits most of the coal companies. ashley: steel prices firming as well. >> it seems that way, yes. ashley: the epa has been tough on the coal industry. >> you have said it, yeah. ashley: does that have an impact? >> it has. you know, certainly the equities were discounting a romney victory back in november. got hit pretty hard afterwards. now the stocks are back to where it was prior to the election. in my view, there's not much more major harm that the epa and other regulation can do to the coal industry. but certainly as the economy dictates demand, electricity generation and more confidence, that will be more important than say the epa. the epa has done their damage for the most part. you can never say never but i think most of the negative news is behind coal for the epa. a
secondly the steel making coal which is used in europe brazil and in asia and we are one of the top three exporters of that coal in the world, and as the recovery in steel production increases in asia and in europe and latin america, that should be better for demand for that coal and hopefully pricing and really benefits most of the coal companies. ashley: steel prices firming as well. >> it seems that way, yes. ashley: the epa has been tough on the coal industry. >> you have said...
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Dec 27, 2012
12/12
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look at emerging markets, lock at europe. they are decoupling. if anything, price is still very bull ir. i would rather listen to price. >> why do you say it's still very bullish? >> they recovered almost completely the loss which means the markets thinks tax puts will still be in play. the market is saying it's okay, you know, we've had an increase in market cap this year in the s&p 500 over $1 trillion. >> right. >> that's more than the cliff. >> let me go to my facebook friend michael carr. you speak washington ese. the house is convening. the president is -- >> doesn't it just make you sick? >> the were inthing you want to watch is eachon javers. i thought it was a perfect graphic. it's fabulous. you can't make it up. >> what do you do when you don't know what's going to happen, and you really don't. if you can get the debt limit thing right and guess how it's going to turn out or guess that it's actually going to do something, all evidence to the contrary, how would you invest, and when you recognize that none of us probably know and got it
look at emerging markets, lock at europe. they are decoupling. if anything, price is still very bull ir. i would rather listen to price. >> why do you say it's still very bullish? >> they recovered almost completely the loss which means the markets thinks tax puts will still be in play. the market is saying it's okay, you know, we've had an increase in market cap this year in the s&p 500 over $1 trillion. >> right. >> that's more than the cliff. >> let me go to...
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Dec 21, 2012
12/12
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clearly europe has gone in the right trajectory. there's some things set up here for markets to behave normally again and i think that would be fabulous for those that have capital market experience, those are obviously the most vulnerable. if you go over the cliff, you stay at the cliff. some of the regional banks that are coming back, as well, companies like regionons financial has gotten some of its credit woes behind it. they may surprise with the capital returns, as well. capital one has solid consolidators. they're now the seventh largest bank in this country. a shock to everybody, but very cheap to future earnings as long as we don't stay over the cliff for a long period of time. >> thank you so much. a former marma was indecided for insider trading. >> he was indicted today stemming from his trading of two pharmaceutical companies during the period of 2000. it's been a tough year for him, a married father of three who fainted at one point from anxiety when the fbi visited his home. but the question looming large over this ca
clearly europe has gone in the right trajectory. there's some things set up here for markets to behave normally again and i think that would be fabulous for those that have capital market experience, those are obviously the most vulnerable. if you go over the cliff, you stay at the cliff. some of the regional banks that are coming back, as well, companies like regionons financial has gotten some of its credit woes behind it. they may surprise with the capital returns, as well. capital one has...